The government has published for public consultation a draft law on the establishment of a voluntary carbon market (hereinafter referred to as the "VCM"). The importance of this proposal is justified by the objectives of avoiding "greenwashing" in the acquisition of carbon credits and increasing the confidence of investors and buyers of this type of product. The consultation is open until 10 April to receive input from citizens, businesses and other stakeholders. The creation of the VCM in Portugal was announced at the end of 2020, when the Minister for the Environment and Climate issued Regulation 12401/2020 of 21 December, which aims to develop a draft regulatory framework for voluntary carbon markets. In parallel, a similar proposal is undergoing the legislative process at EU level. In particular, the European Commission has submitted a proposal for a regulation to ensure the quality of carbon offset projects and schemes in the European Union (COM(2022) 672 final / 2022/0394(COD). Carbon markets aim to value various types of projects that convert their capacity to sequester greenhouse gases (“GHG”) into tradable securities (“carbon credits”). These markets generally allow companies and other organizations to offset their greenhouse gas emissions and thereby leverage their internal ESG objectives by meaningfully contributing to the overall goal of climate neutrality.